China trades capital-account deficit for surplus in 2013

More money poured into China from foreign investors last year than in 2012, The Wall Street Journal reported, citing data released on Friday by the country’s State Administration of Foreign Exchange. The data showed that China’s capital- and financial-account swung to a surplus of US$242.7 billion in 2013 from a deficit of US$16.8 billion in 2012. The broader money flows into China threaten to rekindle criticism of Beijing’s economic policies especially by the US, which is in a midterm election year, and could put more pressure on Beijing to introduce long-awaited financial changes.